ONPEX, a leading provider of multi-currency IBAN accounts, has partnered with the Lithuanian eMoney institution, SatchelPay.
The partnership will see ONPEX provide SatchelPay with tailor-made banking and payment services it needs to boost SWIFT payment capabilities.
Regulated by the Bank of Lithuania and passported in 31 European countries, SatchelPay already offers a unique EUR IBAN solution, which allows them to serve clients in the SEPA zone. However, in response to growing client requests for international multi-currency pay-in and pay-outs, the eMoney institution needed a partner to expand its banking network and to provide cross-border payment capabilities.
SatchelPay uses ONPEX’ flexible Application-Program-Interface (API) to integrate SWIFT payments and facilitate the management of multiple currencies and therefore provides an advanced IBAN solution for its clients. As a result, the Lithuanian-based service provider is now able to offer its clients cross-border sending and receiving of funds in 25 different currencies, all using just one multi-currency IBAN account per client.
In addition, SatchelPay’s clients are able to hold an IBAN account in their own name and unique reference number - making reconciliation even quicker and more efficient than before.
Speaking about the new partnership, Christoph Tutsch, CEO at ONPEX, explained: “ONPEX provides SatchelPay with the bespoke solutions it was looking for to meet its customers’ needs and facilitate the types of transactions they want to make. In a competitive financial services market, SatchelPay needed simple and innovative solutions, which would bring value to its operations and to its customers. With the help of ONPEX, SatchelPay can now deliver a seamless experience for its clients.”
Thomas Jackson, CEO at SatchelPay, continued: “We were seeking highly-skilled specialists to take our IBAN offering to the next level - ONPEX’s expert team proved to be the perfect fit. One of the greatest benefits of our collaboration was the fact that ONPEX was able to deliver in a fraction of the time a tailor-made solution via the use of its flexible API-driven approach. This has led to a number of cost and time savings across SatchelPay as an organisation, which means that we can also share these benefits with our clients. In short, ONPEX has given SatchelPay an even greater competitive edge in a crowded market.”
Contributed | what does this mean?